Corporate Account Takovers
What is an Account Takover?
A fast growing electronic crime where thieves typically use some form of malware to obtain login credentials to Online Banking accounts and fraudulently transfer funds from the account(s).
Malware: Short for malicious software, is software designed to infiltrate a computer system without the owner's informed consent. Malware includes computer viruses, worms, trojan horses, spyware, dishonest adware, crimeware, most rootkits, and other malicious and unwanted software.
Domestic and International Wire Transfers, Business-to-Business ACH payments, Online Bill Pay and electronic payroll payments have all been used to commit these crimes.